Huge rally on Friday?

[stock_trad3r]



the tim geitner gains of November 21st and 24th have held. The dow bottomed a 7,400 and is still 1000 points higher. Also look at the huge volume on the 21st and 20th. That is an irrefutable bottom. Buy tech.

 

[madmaxer]

Support line is penetrated. Need to get back above the red line ( attached photo ) to survive. Otherwise we are heading to test the low.
My special number is ES/740. If we break it successfully. it will slide down faster

 

[pupu]

dow 20,000 by EOY!

 

[ggoyal]

why predict?

 

[stock_trad3r]

the potential downside is only 300 points at most. So much support in 8000-8200 range.

All negative news priced in.

 

[AKUMATOTENSHI]

I don't see the chart that way. It looks like marginal downside movement.

Akuma

 

[stock_trad3r]

On another positive note oil is surging:

Oil	35.99	0.64	1.81

Up 2%..not bad

Nikkei 225	8,703.63 8:21PM ET	Up 104.13 (1.21%



We could see a large rally in Hong Kong and Europe as well. 

Keep in mind that the market looks very, vary far ahead. That big selloff between october 3rd-10th was the pricing in process of three months of bad econ news. 
Now we'll see a huge rally as funds price in an economic recover in mid 2009. 

But the economy doesn't really have to recover because this recession has been so shallow when you look a the numbers. There is so much value and PE ratios are so low. 

 There is no compelling reason for the market to be this low.

 

[Port1385]

Nope, no rally. Your chart shows the dow not being able to get over its previous high. Now its time to dump, time to short.

Stop drinking the Kool-aid, we have not hit that crescendo bottom when you will finally say...

 

[S2007S]

GMAC just became a bank (another fu$king joke) to tap into more FREE money, this should help the Dow soar.....

 

[bond tr4der]

The entire system is on the verge of collapse. Credit is dead.